Uralchem reaches agreement on purchase of 20% of Uralkali shares

The stake makes up 20% of the company’s authorized capital

MOSCOW, December 02. /ITAR-TASS/. Shareholders in Russia’s fertilizer company Uralchem have reached an agreement in principle on the purchase of a package of shares and GDR of Uralkali potash giant that together make up 20% of the company’s authorized capital. The sides expect to close the deal in the short run, Uralchem said in a release.

“We are sure of the fundamental attractiveness of the potash fertilizer market and highly value the leading positions occupied by Uralkali on this market. The purchase of this package is a strategic investment for us that will create substantial value for the group and its shareholders,” Uralchem board Chairman and majority shareholder Dmitry Mazepin said, commenting on the deal.